Exploration update - WIndy Hill
Canberra, July 4, 2016 AEST (ABN Newswire) - NSW-focused base and precious metals explorer Alt Resources Ltd (
ASX:ARS) ; "Alt or the Company") is currently undertaking diamond drilling at its flagship Paupong Project near Jindabyne in southern NSW. Two first pass diamond holes have been completed at the newly discovered Windy Hill prospect, 3.5 km north-east of Kidman prospect area (Figure 1, see link below).
Highlights:
- First pass drilling intercepts narrow high grade Cu-Ag-Au with strongly anomalous Bi and Pb in massive sulphide at Windy Hill
-- PDD008 0.3m @ 3.8 % Cu, 83.6 g/t Ag, 0.4 g/t Au, 0.17 % Pb, 0.3 % Bi
- Rock chip and soil geochemistry reveals a strong polymetallic trend
- Drilling shows significant Cu enrichment downhole relative to surface sampling
- PDD007 intercepts diatreme breccia supporting an Intrusion-Related Gold model
The Windy Hill prospect is a substantial Intrusion-Related Gold (IRG) target described in detail and previously announced 24th May 2016, with key features including:
- Modelled buried intrusive bodies, from magnetic data
- Zoned Au-Cu-Pb-Ag (+/-Bi) geochemistry in rock chips and soils coincident with buried magnetic anomalies
- Quartz-sulphide veins and stockwork zones at surface
- Extensive outcropping diatreme breccias
The first two drill holes at Windy Hill targeted an outcropping quartz-sulphide vein on the northern margin of the mineralised system, and a distinct IP anomaly south of this zone (Figure 2). This vein shows high grade polymetallic results in rock chips at surface, with up to 2.4 g/t Au, 128 g/t Ag, 0.26% Cu, 2.12 % Pb and 0.26 % Bi (Table 1, Figure 2, Figure 3 - see link below).
Drillhole PDD008 targeted strong surface geochemical signature, an IP response and surface expression intersecting the vein at ~90m downhole. This narrow vein shows strong polymetallic mineralisation with semi-massive pyrite + chalcopyrite + galena in quartz. A strong sericite and clay alteration halo is present in sandstone host rocks surrounding the mineralised zone. Assay results gave 0.3m @ 3.8 % Cu, 83.6 g/t Ag 0.3% Bi, 0.4 g/t Au and 0.17% Pb.
The downhole intercept represents a four-fold enrichment in copper relative to the surface geochemistry.
Drilling is continuing beneath the eastern end of the quartz-sulphide vein, in closer proximity to the main diatreme breccia and quartz stockwork zone.
PDD007 targeted an IP anomaly which seemed to be associated with nearby quartz-vein supported breccia zones and mapped faults. The hole intersected 10m of diatreme breccia, containing minor chalcopyrite and pyrite disseminated throughout the breccia matrix. Sampling returned no significant assays. Breccia clasts are dominantly sandstone and shale country rocks, with minor sericite-altered igneous clasts also observed. The latter further supports the model of a diatreme breccia associated with a buried intrusion (the Company's IRGS model), as shown in Figure 4 (see link below).
The combination of polymetallic mineralisation, both at surface and in drill core, associated with a diatreme breccia intersected in the first pass Windy Hill drillholes, strongly supports the Company's IRGS model. Two additional holes are currently underway at Windy Hill. Results for these final holes will be announced on receipt of assays. Follow-up drilling has been planned for the main magnetic targets at Windy Hill. These targets are the subject of a New Frontiers Cooperative Drilling funding application with the NSW Department of Industry, with successful applicants to be announced in the coming months.
To view tables and figures, please visit:
http://abnnewswire.net/lnk/865301P5
About Aurenne Alt Resources Pty Ltd
Aurenne Alt Resources Pty Ltd is an Australian based mineral exploration company that aims to become a gold producer by exploiting historical and new gold prospects across quality assets and to build value for shareholders.
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